Pepcol Mfg. Co. v. Commissioner
United States Tax Court
P purchased equipment which it used to process animal bone into gelatin bone. Held, P's equipment constitutes "recycling equipment" within the meaning of sec. 48(1)(6), I.R.C.Held, further, the exclusion of "animal waste" from the category of "solid waste" in the definition of "recovery equipment" in sec. 1.48-9(g)(1), Income Tax Regs., is invalid.
1Opinion of the Court
OPINION
TANNENWALD, Judge:1
Respondent determined a deficiency of $138,340 in petitioner's Federal income tax for the taxable year ending February 29, 1980. The issue for decision is whether petitioner's bone-processing equipment qualifies for the investment tax credit as energy property under section 48(1)(6).2
This case was submitted to the Court fully stipulated pursuant to Rule 122. The stipulated facts are found accordingly.
At the time the petition in this case was filed, petitioner's principal office was located in Denver, Colorado. For its taxable year ending February 29, 1980, petitioner…
2Cases cited12 opinions
- Helvering v. HorstSupreme Court of the United States · 1940
- Bingler v. JohnsonSupreme Court of the United States · 1969
- Addison v. Holly Hill Fruit Products, Inc.Supreme Court of the United States · 1944
- United States v. Vogel Fertilizer Co.Supreme Court of the United States · 1982
- Stubbs, Overbeck & Associates, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1971
7 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- George S. Nalle, Iii, and Carole Nalle v. Commissioner of Internal Revenue, Charles A. Betts and Sylvia I. Betts v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1993
- Sim-Air, USA, Ltd. v. CommissionerUnited States Tax Court · 1992
- Griffin Industries, Inc. v. United StatesUnited States Court of Federal Claims · 1992
- Ying v. CommissionerUnited States Tax Court · 1992
- Pepcol Manufacturing Co. v. CommissionerCourt of Appeals for the Tenth Circuit · 1993
10 more not listed; retrieve them via the Exa API.